Never Retire!

Since I have my 65^th birthday coming up in a few days, I thought it would be interesting to take a look at a really cool formula or two that calculates when you are going to retire.  This can be a useful tool if, for example, you work in Human Resources or if you are doing Financial Planning.  It can also be entertaining if you just like to Daydream about days in the future when all you are concerned about is laying on the beach (getting even more wrinkly…).

I, for one, have absolutely no desire to retire anytime soon, since I enjoy teaching, blogging, and instructional design too much to give it up (besides, I look like I’m only in my 40s, Ha!).

If you have worked with Excel for some time, you know that it can be a bit quirky when it comes to handling dates.  Today, however, we will look at a couple of truly elegant ways of calculating your retirement date based on the Retirement Age you choose and on your Date of Birth.

In our first example, we’ll assume that the person’s birth date is in cell A2 and retirement age is 66.  In cell A3 create a formula as follows:

=DATE(YEAR(A2)+66,MONTH(A2),DAY(A2))

Another, even shorter, formula that you can use is the following (please note that you will need to format your cell as a date after using these formulas):

=EDATE(A2,66*12)

 

Well, there you have it; two uber-cool ways for Calculating Your Retirement Date. Now pardon me while I get back to work (laying on the beach can wait…).